Solar Panel Cost Guide in Milford, DE (2025 Update)
- Milford Solar Installation Cost: $13,967
- 25-Year Savings: $17,321
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Milford
Let’s have a look at the average cost of solar panels in Milford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Milford, the average cost of a solar system is 3 per watt.The average solar panel system size in Milford is around 6.5 kilowatts, meaning a cost of about $13,967 for a solar installation, or $19,973 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Milford based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.With average savings of about $17,000 on utility bills over 20 years, many homeowners in Milford find installing solar panels has a decent ROI.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Milford
| Year | Return on Investment |
|---|---|
| 1 years | $-12,566 |
| 3 years | $-9,764 |
| 5 years | $-6,962 |
| 7 years | $-4,160 |
| 9 years | $-1,357 |
| 11 years | $1,445 |
| 13 years | $4,247 |
| 15 years | $7,049 |
| 17 years | $9,851 |
| 19 years | $12,653 |
| 21 years | $15,455 |
| 23 years | $18,257 |
| 25 years | $21,060 |
Top Solar Installers in Milford
Although you can install solar panels yourself, it takes extra time and knowledge. That's why the majority of homeowners choose to go with a solar panel installer. Another good thing about using a vetted solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you’d like to switch to solar energy but still aren’t sure which solar system company to go with, here are our suggestions for providers nearby:
See all of the solar companies in Milford
Factors that Affect Solar Panel Costs in Milford
Although the average cost of a solar system in Milford is $13,967, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,090. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Milford average.
Solar Financing Terms
Most solar installers in Milford provide solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Milford, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.21 | $13,497 | $13,433 | 12.5 years |
| 8 kW | $3.15 | $17,650 | $18,257 | 12.3 years |
| 10 kW | $3.09 | $21,630 | $23,253 | 12.0 years |
| 12 kW | $3.03 | $25,437 | $28,423 | 11.8 years |
| 14 kW | $2.97 | $29,071 | $33,766 | 11.6 years |
| 16 kW | $2.90 | $32,532 | $39,282 | 11.3 years |
| 18 kW | $2.84 | $35,819 | $44,971 | 11.1 years |
| 20 kW | $2.78 | $38,934 | $50,832 | 10.8 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you want to install plays a role in which company you should opt for, since different companies have different panels.
- Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
EcoWatch's Milford, DE Solar Cost FAQs
What is the average cost of installing solar panels in Milford?
The average cost of solar panels in Milford is about $15,450 for a 5-kW system and $30,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Milford?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Milford?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.